Wilmette Parent: The Referendum Will Protect Housing Values

Lee F. Canel is a Wilmette parent with children who attend Wilmette Junior High School and McKenzie Elementary School.

A 2010 study by the Federal Reserve Bank of St. Louis titled Non-linear Effects of School Quality on House Prices, concluded that “the quality of primary school education is positively correlated with house prices.” This means that after adjusting for other factors, the study’s statistical analysis confirmed that higher quality elementary schools produce a positive effect on housing values. It stated that the premium for school quality can be “substantially large.”

Reported consequences of the referendum failing will be:

1. 24 percent of teachers fired to produce larger class sizes
2. No foreign language, instrumental music or reading intervention
3. No librarians, technology teachers, or differentiated instruction
4. A 30 percent to 50 percent reduction in time children spend in Art, Music and PE

If the referendum fails, Wilmette schools will not be offering all of the services provided by surrounding districts. Buyers and sellers will notice this difference and housing values will suffer as a result of the service deficit.

On the other hand, if the referendum is approved, Wilmette schools will continue to be competitive with neighboring districts. In this case, schools will maintain their quality. Housing values should not be impacted because there will be no differences in the services provided. At present, real estate markets are still uncertain. While housing values declined less in Wilmette than in many other surrounding suburbs, the present uncertain and unbalanced market makes our properties more vulnerable to decline than usual. Since voting for the referendum will allow District 39 to stay competitive with surrounding districts, voting “yes” should prevent our housing values from declining due to the quality of our schools.

I urge all residents of District 39 to approve the funding referendum. District 39’s administration has skillfully avoided a tax increase as long as possible. No one sending students to New Trier has avoided a funding increase as long as our district, which last increased its rates in 1998. District 39 was not responsible for the shortfalls. They were caused by a 9 percent increase in enrollment, and million-dollar-per-year decreases in state funding. Keep our schools strong and protect our property values by voting “yes” to the referendum. It is a good way to protect our housing values and help prevent the declines seen in other areas from spreading here.